Exercise 8-5 Bonita Industries has accounts receivable of $98,500 at March 31, 2017. Credit terms are 2/10, n/30. At March 31, 2017, there is a $1,977 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below Balance, March 31 Estimat Percentage 2017 2016 Uncollectible Age of Accounts Current 1-30 days past due 31-90 days past due 296 $69,600 $70,010 12,000 8,670 9,700 2,420 Over 90 days past due7.200 1,140 $98,500 $82,240 31 49 Determine the total estimated uncollectibles. The total estimated uncollectibles LINK TO TEXT VIDEO: APPLIED SKILLS VIDEO: SIMILAR EXERCISE Prepare the adjusting entry at March 31, 2017, to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit